Depository Institutions
What type of depository institution offers checking and savings accounts and is generally for-profit?
What is a bank?
What savings tool allows immediate access to funds but typically offers low interest?
What is a checking account?
What feature allows customers to access their accounts and make transactions online?
What is online banking?
What is the fee charged when an account balance goes below zero?
What is an overdraft fee?
What type of depository institution is member-owned and typically non-profit?
What is a credit union?
What savings tool offers a fixed interest rate for a specific period of time?
What is a Certificate of Deposit (CD)?
What feature allows customers to manage their accounts using a mobile device?
What is mobile banking?
What fee is charged by banks for handling a bounced check?
What is a non-sufficient funds (NSF) fee?
Which depository institution is responsible for insuring deposits up to $250,000 in the U.S.?
What is the Federal Deposit Insurance Corporation (FDIC)?
What type of account allows for limited withdrawals and transfers but offers higher interest rates than checking accounts?
What is a savings account?
What is the feature that automatically transfers money from one account to another on a recurring basis?
What is an automatic transfer?
What fee is charged when a customer uses an ATM that does not belong to their bank?
What is an out-of-network ATM fee?
What type of depository institution provides investment services and wealth management?
What is an investment bank?
What savings tool allows for limited check-writing abilities and often provides a better interest rate than savings accounts?
What is a money market account?
Which feature lets you use your debit card to withdraw cash from a machine at any time?
What is an ATM?
Which type of depository institution primarily offers loans for real estate and mortgages?
What is a savings and loan association?
Which type of savings tool is typically used for long-term retirement savings and has tax benefits?Which type of savings tool is typically used for long-term retirement savings and has tax benefits?
What is an Individual Retirement Account (IRA)?
What feature provides an overdraft safety net by linking two accounts?
What is overdraft protection?